5 Of Toronto's Top Q4 Industrial Lease Deals

The GTA industrial market had 2.8% availability in Q4, with 881k SF of net absorption, according to figures from Colliers International. Here are five of the region's biggest lease deals. 

1. 8875 Torbram Road (Brampton) 

Node: GTA West

Tenant: TJX

Lease size: 445k SF

Worth noting: The 900k SF LEED Gold-certified facility — with 38-foot-clear ceiling heights — is among Canada’s largest available DCs. While GTA West had 446k SF of new supply in Q4, it was readily absorbed, Colliers said.

2. 10 Canfield Drive (Markham)

Node: GTA North

Tenant: Kubota Canada

Lease size: 289k SF

Worth noting: For GTA North, one of the region’s tightest industrial markets (2.4% availability), it is all about Vaughan, which had over 172k SF of positive absorption in Q4 — second-most in the GTA.

3. 95 Market Drive (Milton)

Node: GTA West

Tenant: GENCO

Size: 237k SF

Worth noting: GTA West had the region’s highest net absorption in Q4 (637k SF), driven in large part by the GENCO deal. Asking net rent continues to rise in GTA West — it is currently $6.15/SF.

4. 200 Montecorte St. (Whitby)

Node: GTA East

Tenant: SNC Lavalin

Size: 178k SF

Worth noting: GTA East had the largest availability rate decrease (to 2.9%), with absorption up 110k SF in Q4, and 200 Montecorte was a key contributor. Ajax, Pickering and Whitby’s average asking net rental rates increased from Q3.

5. 1271 Tapscott Road (Scarborough)

Node: GTA Central 

Tenant: Technicolor Canada

Size: 158k SF

Worth noting: This was GTA Central’s largest Q4 deal. The node continues to have the region’s lowest availability rate (1.7%) and saw the smallest increase in rental rates versus Q4 2015: $4.65/SF vs. $4.62/SF.